Vietnam Daily Market Recap May 14

Stocks surge through 1,300, led by tech, telecom

The VN-Index opened higher on Wednesday and traded in positive territory throughout the session, breaking through the 1,300 level for the second time this year to close up 1.3% at 1,309.7. Market liquidity was fueled by positive market sentiment, surging 14.3% DoD to VND22.7tn (USD874mn). The HNX Index followed a similar pattern, posting a gain of 0.4% to close at 218.9.

Most sectors gained today, led by Technology (+5.1%), Telecommunications (+3.1%), Banks (+2.2%) and Basic Retail (+1.3%). In contrast, sectors such as Media (-2.1%), Chemicals (-0.9%) and Real Estate (-0.4%) declined.

Top performers today included VCB (+3.3%), BID (+4.6%), VPL (+6.9%) and FPT (+5.6%). VCB (+3.3%) led gainers, adding 3.7 points to the index. Top laggards included VHM (-1.1%), GVR (-2.2%) and VRE (-5.7%).

VGI (+3.1%), which led the Telecommunications sector, held the largest amount of cash and deposits on the stock market as of end-Q1, with more than VND39.6tn (USD1.5bn) on hand. This marked an increase of VND3tn (USD115.6mn) compared to the beginning of the year. The firm earned over VND400bn (USD15.4mn) in interest income from bank deposits during the first quarter.

Foreign investors net bought today with VND2.2tn (USD84.7mn), with foreigners mainly buying FPT (VND540.6bn, USD20.8mn), VPB (VND321.5bn, USD12.4mn) and MWG (VND284.5bn, USD11.0mn), while selling momentum focused on VHM (VND155.6bn, USD6.0mn), MSN (VND146.5bn, USD5.6mn) and VRE (VND114.1bn, USD4.4mn).

Read the full report: HERE